The latest news on Iraq Oil Production – oil companies, oil output and more – brought to you by Iraq Business News
Gulf Keystone Petroleum (GKP) confirmed on Friday morning that its operations in Kurdistan continue safely and securely with the Company achieving average production of 34,525 bopd from Shaikan since the beginning of October 2017. Shaikan is performing as expected with cumulative production from the field now at 42.4 million barrels, an average of 35,966 bopd […]
Genel Energy has issued a trading and operations update for Q3 2017. The information has not been audited and may be subject to further review. Murat Özgül (pictured), Chief Executive of Genel, said: "During the quarter Genel executed a landmark settlement agreement with the KRG over historical receivables, which we expect to materially enhance our […]
By John Lee. Iraq is reportedly considering using security forces to prevent Kurdistan from blocking oil output from Kirkuk. A spokesman for the North Oil Company (NOC) told Reuters that Kurdish officials indicated that they would shut down production at the Kirkuk oilfield, ostensibly for security reasons, but as a means of putting pressure on […]
By John Lee. Genel Energy has announced that production at its Taq Taq field in Iraqi Kurdistan, in which it has a 44 percent working interest, averaged 13,475 barrels per day in September. This is considerably below the 2017 year-to-date average of 19,398 barrels per day. (Source: Genel Energy)
Gulf Keystone Petroleum (GKP) has confirmed that a gross payment of $15.0 million ($12.0 million net to GKP) has been received from the Kurdistan Regional Government (KRG) for Shaikan crude oil export sales for April 2017. Company's current cash position is $140.3 million. On August 8th, cumulative production from the Shaikan field reached 40 million barrels; […]
By John Lee. The Abu Dhabi National Energy Company PJSC (TAQA) has confirmed that production from the Atrush Block in the Kurdistan Region of Iraq is expected to ramp up towards the 30,000-barrel-per-day project capacity (gross) in 2017. Oil production at Atrush started in July. TAQA is the operator of Atrush and has a 39.9% […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Mid-year Assessment of Oil Export Revenues and Budgetary Implications Iraqi data on oil exports and generated revenues for the first half of 2017 provide the material evidence to assess the impacts of […]
By John Lee. The Abu Dhabi National Energy Company PJSC (TAQA) has started oil production at its Atrush Block in the Kurdistan region of Iraq. Oil started flowing through the Atrush Central Processing Facility on 3rd July which has the capacity to handle up to 30,000 barrels of oil per day. The TAQA-operated Atrush Block […]
Iraq’s ambition to boost oil-output capacity to a record 5mn bpd is “not unrealistic” as the country prepares for the end of OPEC-mandated supply limits, according to analysts. Iraq, which has been rehabilitating its oil industry after years of conflict, has vowed to keep expanding capacity while respecting an Organisation of Petroleum Exporting Countries’ accord […]
By John Lee. WesternZagros Resources has announced that the operator has completed the installation of surface equipment to expand the Sarqala production facility. Current production for the Sarqala-1 well is approximately 9,500 barrels per day of oil, which is in line with the company's first quarter guidance expectations. (Source: WesternZagros)
By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi] has met with the Algerian minister of energy Mr. Nooraldeen Botarfa in Baghdad at Wednesday to discuss increasing cooperation between the two countries in the oil sector. In addition to exchanging ideas about the development of the oil sector, they also discussed the "necessary coordination between […]
By John Lee. Algeria's Energy Minister is to visit Baghdad on Wednesday and Thursday. According to the report from Reuters, Nouredine Bouterfa (pictured) will discuss OPEC-related issues with the Iraqi Minister of Oil. (Source: Reuters)
